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Mahindra & Mahindra Rises to No. 2 Spot as India’s PV Market Hits Record High in FY26

Prime Highlights

  • Mahindra & Mahindra climbed to the second position among passenger vehicle makers in India, driven by steady demand for its SUV portfolio.
  • India’s passenger vehicle market recorded its highest-ever annual sales, signalling strong overall industry growth.

Key Facts

  • Maruti Suzuki India retained the top position with sales of 18,23,129 units in FY26, marking a 3.54 percent increase year-on-year.
  • Total passenger vehicle sales in India rose to around 47 lakh units in FY26, up from 43.4 lakh units in FY25.

Background

Mahindra & Mahindra claimed the second spot among India’s passenger vehicle makers by volume in FY2025-26, with its SUV range keeping demand steady. This came as India’s passenger vehicle market logged its best-ever sales figures during the year.

Maruti Suzuki India retained its top position in the domestic market. The company reported passenger vehicle sales of 18,23,129 units in FY26, compared with 17,60,767 units in the previous financial year, reflecting steady growth of 3.54 percent.

Mahindra & Mahindra secured the second spot in the SUV segment. Consumers in urban and semi-urban markets are increasingly choosing larger, feature-rich vehicles.

Tata Motors Passenger Vehicles Ltd held the third position. It posted domestic sales of 6,31,387 units in FY26, up from 5,53,585 units in FY25, a growth of around 14 percent. The company grew its presence across both internal combustion and electric vehicle segments.

Hyundai Motor India Ltd saw a dip in domestic sales. It recorded 5,84,906 units in FY26, against 5,98,666 units in FY25, a decline of 2.29 percent over the period.

Overall passenger vehicle sales in India reached a new milestone of about 47 lakh units in FY26, rising from 43.4 lakh units in FY25. The growth reflects strong demand across multiple segments and continued recovery in consumer sentiment.

Mahindra & Mahindra Executive Director and CEO Rajesh Jejurikar said the company is working towards becoming a leading SUV brand by value. He noted that customer response to its products has been positive.